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shortly after the november presidential election. this is an hour and half. >> one of the best things about sitting across from you is that, for all of us who have been part of the institute's staff, we are wondering what you been thinking, with this experience has been like for you over the last year-and-a-half, two years. so tonight, we get to hear for the first time your reaction to the campaign. >> thank you very much. i want to thank the in boyer for the support the university has given the institute politics, including making it possible for us to hire such extraordinary people like steve edwards and been restored and all of the other people -- and ben reeseberg and all the other people. [applause] you have been wondering what i have been doing and i have been wondering what you have been doing. [laughter] >> those who were disappointed by this outcome, the democrats elated by this outcome -- given the conventional wisdom around this campaign, the president's approval ratings that were barely above 50%, often dipping below it, the unemployment around 8%, gdp growth stock of arou
ten moments of an election year is like finding your favorite grain of sand on the beach. there are an impossible number of possibilities. there are the moments when catch phrases become boomerangs. >> if you got a business, you didn't build that. >> i like being able to fire people who provide services to me. >> when cast members stole the spotlight. >> i'm an american woman who us contraception. let's start there. >> almost like an etch a sketch, you can shake it up and we start all over again. >> a fair number of moments ranging from ridiculous to explicable. >> i'm not going to shut up. it's my turn. >> i think it's called romnesia. >> if i were to coin a term it would be obamaloney. >> so many moments so much nonsense. but there were moments that shook up the race or made history and made our top ten list. >> it was seen at the time as a proxy race for november. wisconsin's republican governor scott walker in a showdown with organized labor over budget cuts and collective bargaining power. turns out the end result was no bellwether for the presidential race. walker w
presidential history. if you think about every president elected from 1964-2008 comes from a state of the sun belt. lyndon johnson from texas, richard nixon from california, gerald ford was never elected. he was not even elected vice president. he was a michigan. jimmy carter from georgia. ronald reagan from california. first george bush, texas by a connecticut. bill clinton from arkansas, and the second bush from texas. so 2008 is in some ways a watershed election. it is this 40 year period of sun belt dominance. and there were issues that are critical in the politics that develop, that came out of the sun belt. they tended to have a conservative task to them. they tended to be oriented around history of strong national defense, of an opposition to unions and a defense of free enterprise politics. and also it's in the sun belt, in the south and southwest that we see the rise of what we see by the 1970s is becoming to talk about as the religious right, the rise of evangelical involved in the clinical process in new and important ways. so thurmond was at the forefront of all of those issues in
, no one is coming behind him and senator mcconnell, the republican leader of the senate is up for re-election and as we saw in the senate race in kentucky a few years ago, he may have to worry about a challenge from the right if he supports a tax increase. i think president obama is doing the only sane thing he can, which is reach out to the speaker and he controls the house and, that is -- and the good news for the president is the public seems by all the polls, by the fact the election came out the way it did, to be in his corner, not the speaker's. >> rick: the president -- you want to weigh in on that? >> i just -- >> rick: americans are in favor of raising taxes on the wealthiest americans and, the president did win, november 6th. >> we have seen polls that say that, they approve tax reform and want to see real entitlement reform and want to get spending under control. but, president obama has failed to bring anything up to the -- on the table, and, especially the democrats, they have been silently on entitlement reform and silent on the spending cuts and as we know, we can talk about ra
not so good. 9/11. the anthrax scare. there were also positive things. the election of barack obama i thought was a very positive statement for the country and moving forward in a way out of a fiscal of this. abyss.thi i could not have imagined a better time to have been here with all of the things that have happened. >> let me ask you to look back over those 12 years and ask what the high point was. >> when we could work together. maybe the single event that would and body that is the gang of 14. john mccain and i put together six other democrats and six other republicans to avoid what was then called the nuclear option, changing the rules, turning the senate into a smaller version of the house, where the rights of the minority caucus are ignored. consequently, we were able to work together that way, crossing party lines, crossing with the id administration wanted done or what the caucus leadership on both sides wanted done, it showed we had a certain independence. i will never forget the late senator robert sitting in an office with us all together, sobbing, saying, we saved the sen
wall street doesn't want you to know. plus, it goes down as the most expensive election in history. the role dollars and donations played in the race to the white house. and, americans spent a staggaring amount of money at the box office this year. a look at what we watched. but first, matt shapiro, president of mws capital, joins us now for a look back at the standout stocks of 2012. good to have you on the show this morning. > > thanks a lot angie. > definitely facebook was the leader of the pack. it was the third largest ipo ever, and one of the worst opening days ever. > > what a typical disaster for today's vacuous electronic markets. but, if you held off, remember, it was $18.75 before its last earnings report, and bounced all the way up. so, not only was it the worst ipo, but, it was a story rebound stock. and it's kind of the age of 2012, was these big tech stocks. which one do you buy and where do you buy it? > there were good times and bad for apple. at one point it was the must-own stock, and then it was "you must sell quickly before the end of the year and take home you
and you will like it. you know what it reminds me of? elections have consequences. i won. it's not a nice tack to the center where i'm going to govern for all of you. are you coming back? >> i'm going to. >> the jacket is coming off, though, right? >> christmas eve and i'm celebrating. as you know, we had the tree going this weekend with the lights on. >> that's so nice. there's one other thing i sought on that thing over the weekend that you brought us that i was going do -- oh,no. did you see mitt romney did not want to run? >> i saw that. that was in the boston globe. that was a great piece worth reading. then he found out how bad things were going on his ipad. >> yeah. but maybe he didn't want to run because there were times i really kind of thought it looked like he didn't want to run. >> yeah, but towards the end, i thought he did. >> he tried hard. thanks. >> okay. >> come over here. >>> in other news, a dock worker strike on the atlantic and coast could be just days away. port operators have been negotiating with the long shoreman association since march. but the two sides are sai
come off the dow very similar to what we saw after the election when we don't get a deal. this comes home. people don't realize what this is going to do. this is not healthy. this is not good. so what we're going to get is this wakeup call and i think people are getting a gift right now, opening the screens, take some off the table. at least place protective stops so you know where you will get out. >> rick santelli, is that how you read the message of the market right now? >> you know, i think the market's major movement with regard to the lack of a solution on the fiscal cliff has been more of what we've seen not more of what we think we're going to see. i'm referring specifically to some of the special dividends, some of the tax issues, some of the buy backs, some of the way, you know, states and trusts are being manipulated and moved to deal with the potential worst case scenarios. i think in terms of the market our guests just referred to some of the volatility. you know, as congress called it a day or as the boehner bill didn't pass the plan b. but i remember the t.a.r.p. vote.
. on november 4 before the election, you posted on facebook, "why would anyone jobless today vote to maintain the status quo instead of change? unemployment is still higher than four years ago." what are your thoughts on president obama's re-election, i would say to you? were you saying to people if you are jobless today the president has failinged you and you should vote against him and vote for change in the presidency? >> well, what i was saying was the old recovery -- mantra, to do the same thing over and over and over and expect different change is called insanity. we spent $2 billion on an election that nothing changed. same congress, same senate same president. so should we expect change? i'm not that sure. >> therefore the re-election of president obama was a good thing or bad thing you think? >> well, i don't ever get into politics as you know, charlie. i've always said i'm not right wing or left wing, i'm for the whole bird. >> evidently, god wanted president obama, he had a purpose for him, to be re-elected. do i follow that? what's the disconnect between those t
our elected officials a respectful but potent message. interesting way to do it. >> the problem with the starbucks, they'll cut a deal. >>> let's talk about sports, shall we? call him a bad quarterback but do not call him a bad teammate. tim tebow firing back after a report that said he asked to sit out some offensive plays on sunday after being snubbed for the jets starting quarterback job. espn says tebow was so upset with the perception that he quit on the team that it dampened his christmas. as for tebow, he will likely be out of new york by next year, headed to presumably the jacksonville jaguars, his home team. but you know what this is? world's smallest violin. you think i feel sorry for him? >> especially with $5 million after being traded from denver. come on, tim, you're terrible. >> oh! >> he's got a lot to say. >> back to the dinner topic right now. as we have told you, president obama lands in washington today, back from hawaii to take part in negotiations over the f is cal cliff, but it seems increasingly unlikely that we are going to have a plan that congress can
through the disagreements. the notion that our elected leadership can't do the same thing is mind boggling to them. and needs to stop. >> i just have to repeat, congress, you are terrible at your jobs. i really don't like working with you. we're going to talk a bit later in the show about everybody hates congress and what we can do about that. but as much as the public hates congress, you really get the feeling that congress' approval rating among president obama is in the neighborhood of negative 75,000 percent. and yes, numbers geeks, not a real number. but he seems really tired of working with these people. but there is a way in which congress, and particularly congressional republicans may actually be helping president obama out right now. everybody's always known two things about the cliff. you're almost certainly going to get more taxes in a deal after you go over than in a deal before you go over it. that's because after you go over the cliff, taxes already go up for everybody. so anything you do, any reasonable deal congress reaches, it will be a big tax cut. but the other thing ab
and sintroduce you to the president. they looked at each other and said yes. 18 years later i got elected to congress and i called reagan's secretary and let me see if i can arrange this. they range did and -- arranged it and mom and kenny came. we went into the oval office and president reagan came over and said, i want to tell you your son is one of the brightest young congressman we have and he is going to do great things. i know you have to wait on tables for 18 years and it worked in a foundry. and danny had to shine shoes. we had those problems in my family. isn't it great we live in a country where you can achieve anything? he had had his secretary called my abbas to find out about me and my family. when i walked data that office, i would have done -- out of that office, i would have done anything for that man. she was so happy and she carried the picture until she died. her favorite actor was ronald reagan. >> a lesson for that about relationships for president is the personal touch? >> it is a big part of it but it was not just a personal touch. he had goals like the strategic de
congress, after the election, politicians will be free to reason together. why should it be any different or any better in a new congress? >> what does it say about the state of our politics? that these elected officials, manufactured a crisis and can't get themselves out of the box that they constructed? >> what does it say? it says that we don't have just an ideological divide. we have a crisis of self-government right now. to be real clear about it. this is a time bomb that congress set. nobody wants to see frustration cuts. but that's the stick they put to their own head as a way of compelling a deal to get done. and a deal doesn't get done. we're not even aiming for the grand bargain that is necessary to reduce long-term deficits and debt. we're going to get a patch and be here again in two months. congress can't get out of its own way. we keep setting our own traps. >> john, we appreciate the clarity, even if it's depressing. thank you very much. >>> a lot of other news developing overnight. for that, let's check in, as always, with mr. ron claiborne. >> hi, dan, bianna. we begin in
last year. we had the supreme court ruling that we were waiting for. we had the election which impacted whether obama care was going to stick around now. the law of the land, looks like it will stay. although you read thing about other challenges, i don't know how likely that is. but for most of the year were people assuming it was going to stand up to all of these? >> actually, for most of the year i think people were thinking it was going to be overturned. especially around the supreme court. >> yeah. >> and there was also the presidential election. and you saw a lot of movement around, you know, these events. >> what finally benefited it when it became clear it was going into effect? >> managed care. >> is that going to continue? >> did well. and hospital did well. but that was offset by economic factors. yes, likely to continue for both. i think depending on economics, and that will be dan -- dan's will but hospitals will be more dependent on economics. >> managed care gets $30 million now? >> $30 million in 2014. we may drift for a while in managed care before we get to '14. and ph
much of a deficit. >> worry me this question. can you get elected if you say i am going to cut this and cut that unless money flows out. can you get elected f. you reform social security can you get elect medicare or medicaid. you can get elected. i will reform. post office. you can't get elected. >> kelly: you can't take it back. >> once you made the promise to pay how do you with draw. >> clayton: but you can get elected raising taxes. interpeffort the last election. >> julia: we didn't say your name at the beginning of the segment. >> clayton: he doesn't even need an bruction. he's so good. >> julia: this is your guy when you talk about fiscal cliff. >> i am guy with the accent. >> clayton: tune in fox business network . no one does it better stewart varney. ualjullove to your family and beautiful children. >> clayton: teachers trainn to use handgun to protect the school. we report and you decide. julaloha, hawaii. president is heading back to washington. is it too late to avoid the fiscal cliff. you can't answer it because you are leaving now. we'll talk about this next.
, was elected in 2009. i am 38. this is where you say i look much younger than that. [laughter] i love coming to this space, good lighting. [laughter] but i think, again, i can speak to this personally because now that i am an elected official, the only woman serving on that body and the first woman of color in that body in its history -- mass. [applause] now, why does that matter, why is that relevant? i appreciate the applause, it has nothing to do with a personal achievement. i think it's a shared victory for all of us. it means that the solutions we're developing in government are more comprehensive and fully informed because of that perspective. so i've thought a great deal about this issue of attraction and retex, but more than that, how do we keep native bostonians? because we were losing young people who had been, who were raised here who were going someplace else. they do come back, though, i have to say that. they sort of go on this pill grammage to see what is out there, but they do come back. and so to ed's point and barbara's as well around social issues, this is an issue i'm wor
bubble. i think we have seen that in the last election. they simply could not believe the public polls, what they were saying that obama was probably going to win and most democratic senate candidates were going to win. they were shellshocked in their own words. and if they could not accept empirical reality they are going to be in big trouble in the succeedinsucceedin g elections. see the democrats became useless? >> well they become useless and they have become kind of the party of me to but less in that after three successive losses in presidential elections in the 80's, they kind of retooled and became more corporate friendly. many people think, and i happen to be one of them, for all that obama has excoriated as the kind of canyon usurper who is a muslim and
a deal together. while the elected officials know they need to be more visible. >> mr. speaker, we ought to be here working, addressing these challenges. >> reporter: under pressure to show up, even if there is no deal to consider, congress will work this holiday weekend. the deadline is so close, outgoing members have already packed up their offices and need to move out while the harsh tone is going nowhere. >> the american people, i don't think understand the house of representatives is operating without the house of representatives. it's being operated with a dictatorship of the speaker. >> the president shows, instead, to spend his time on the campaign trail. >> reporter: what's at stake is real money for every american worker and family. >> the average family earning $50,000 to $75,000 a year will see their taxes rise $2400 in 2013. >> reporter: income tax rates go up at every level. taxes on capital gains and dividends will jump. the 2% payroll tax holiday ends. the alternative minimum tax will hit more families. long-term unemployment benefits expire. >> sad it got to this point,
the president win re-election. so they waited until after the election to release the film instead of doing it in october. >> are you going to see it? >> i'm interested. i think what we do in this business, i'm interesting to see how hollywood is going to portray it. >> as our viewers know, i cover that region for abc news. i guarantee they are not running that film in any theater in either of those countries. so if i'm going to see it, it's going to be here. >> better do it here before they send you back to cover the news in pakistan. >>> coming up, one way to tell the world that you're expecting a new family member. >>> and coming up, after that, the one part of the show you don't want to miss, the pro athlete putting more skin into the skinny. we'll explain it all, next. athlete putting more skin into the skinny. we'll explain it all, next. ♪ skinny, so skinny ♪ skinny, so skinny ♪ skinny, so skinny >> thank you, willis. yes, it is time for "the skinny." the skinny is in the house and on this day after christmas, we have baby news in "the skinny." i don't know if it's news because
? >> cnn projects that barack obama will be re-elected president of the united states. >> terror at an elementary school in connecticut. >> 20 children dead. six adults are also dead. >> our hearts are broken today. for the parents and grandparents, sisters and brothers of these little children. may god bless the memory of the victims. and in the words of scripture, heal the brokenhearted and bind up their wounds. >> what a year it's been. >>> another big story, of course, this year is the fiscal cliff battle. we're not done with that yet. will we get a deal ever? >>> and will the process lead to the end of john boehner's leadership in the house? 9Ñé8 people have doubts about taking aspirin for pain. but they haven't experienced extra strength bayer advanced aspirin. in fact, in a recent survey, 95% of people who tried it agreed that it relieved their headache fast. visit fastreliefchallenge.com today for a special trial offer. and we got onesies. sometimes miracles get messy. so we use tide free. no perfumes or dyes for her delicate skin. brad. not it. not it. just kidding. th
of the pacific. senator inouye was the first japanese american elected to both houses of congress. he was also the second longest serving senator in american history. he was 88 years old. >> the other big story we're following tonight, with a third of all americans traveling for the holidays, meteorologists are now worried about what could be the nightmare after christmas. two new storms are moving in. we'll get the forecast in a moment, but first here's abc's john schriffen with the mess the weather is already creating. >> reporter: it's the christmas trip turned nightmare for drivers on the east and west coast. in northern california with more snow expected to blanket the sierra mountains tonight, cars are having trouble just staying on the road. >> the roads are pretty bad. there's a lot of spinouts further east. there's going to be chain control for the next two days at least going into christmas. >> reporter: with warmer temperatures in the bay area, the pounding rain has been the big hazard. near san jose, this bad accident happened after one driver going too fast, skidded across five la
on deeply held principles. and a lot of these house members got elected in districts that don't look anything like the rest of america. they're very extreme, gerrymandered districts in many case s with ca ca ca cases, and their own personal careers depend much more on how they're perceived back at home. so they don't necessarily care that this is one of the most unpopular congresses in recent history and one of the most unproductive congresses in recent history. they want to stick by their principles. >> it's true. and a lot of them say, eamon, i've been elected to be a check on the president and that's what a lot of this is about. >> right. this is deeply held, fundamental belief on both sides and there's a huge chasm between the two sides on these issues. and somebody's going to be a loser here if there's a deal. somebody's going to be perceived as having gotten rolled and neither side wants to be the party who got rolled here. i think both sides are looking at if fiscal cliff right now and saying, well, we could go over this thing. it wouldn't be the end of the world and that's a
cut the market early and timely topics of a political nature as the election season shows they could get the news out in a wider way with an e-book and if they had to wait several months or a year for e-book. >> michael grunwald's book "the new new deal" which is about the economic stimulus, i found it very interesting and not the kind of stuff we were reading, seeing people discuss on tv, he writes for time magazine and is sort of a non-partisan and an appreciation of what the stimulus not only did for the economy but what it means for the environment, sort of a story that got lost in all the politics in washington. >> we have to have you comment as an employee of usa today on u.s. aid tomorrow. >> and the day after. the newspaper in september was 30 years old so a bunch of reporters were sent out to talk to people who could predict what the world would be like 30 years from now which would be what are we talking about? 20, 40, 2042. >> we talked about what it means for their industry and we put out a little tab and now that tab, broadsheet is now an e-book which i think you can buy
presidential candidate mitt romney. >> this election is over. but our principles endure. >> romney ran on his impressive business credentials but it was his multiple gaffes during the campaign that analysts say helped seal his fate. remember the 47% comments. >> 47% who are with him, who are dependent upon government. >> and this one -- >> binders full of women. >> number six, ex-cia director general david petraeus. >> breaking news now coming in regarding the chief of the cia, general david petraeus. >> general petraeus, can you talk with us, please? >> the news was unexpected. the reason, shocking. petraeus, a retired four-star general, had quit his cia post and admitted he had cheated on his wife. petraeus' mistress was also his biographer, paula broadwell, an embarrassing exit from the public stage by one of the most respected public servants of his time. >> number five, super jumper felix bum gartner. let's face it, he did what no human has ever done, diving 24 miles from the edge of space, breaking the sound barrier along the way. >> i'm still the same guy. but as soon as you start trav
will be one of these overnight major election shifts, not a gradual buildup. i also think we have missed the online website version of that. part because it has not shown its reliable and secure. there is a very rapid emerging -- i think it will sweep through the country similarly with your cellphone is essentially part of your identity for processing. >> there will be some experimentation -- it will be lots of little elections and all of a sudden it will hit a major state or national. every state will have to have it. at that point we will see the tipping point. >> not that i would disagree with any of this, but i do think one of the differences is that identity in that form can only be given by government. there are lots of identities that can be given by your bank. if you look at sweden -- a deputized their banks so that they were sort of in lieu of government. you got a credential that the government would recognize. there may be ways to do that. >> we have seen precedent for that with electronic benefit transfer. they use the power of the reserve and deputize the bank's. >> yes. >>
panel. i will start here with jaime herrera beutler, elected to congress in 2010 representing southwest washington state's third district. she just turned 34 and she is the youngest woman currently serving in congress. welcome, jaime. [applause] next to her, the former chief of staff at the white house national economic council, the former chief of staff for larry summers at harvard university and currently the vice-president of global public policy for this company may have heard of -- facebook. next to me is michelle kwan, the most decorated figure skater in u.s. history. we all remember watching you at the olympics. i can still remember some of the routine. she also has another cool job now appear in you -- job now. she works in the u.s. department of state. i guess i just want to start out and talk about how you rise to the top. what are the hard parts? >> i would not say i'm at the top just yet. we are waiting for bacthat. maybe someone in the back or watching this will go all the way. >> when do you think we're going to have a woman president? >> ee in our lifetime. out be very su
. they have gerrymandered districts. they're worried about primaries more than general elections, and i think the best case scenario is the senate craft a compromise that both parties can live with and is sort of take it or leave it for the house up against the deadline, and you figure enough house democrats and republicans come together to send it across to the white house. >> steven bennis, white house reporter for roll-call, thank you so much for your time. >> absolutely. >> president obama issued a statement of the status of fiscal cliff negotiations, calling the meeting good and constructive, and he said that senate leaders every read and mitch mcconnell will try to work out a bipartisan compromise bill this weekend. if no deal could be reached, he wants senate majority leader read to introduce a deal that would extend unemployment insurance,. a middle-class tax hike, and the president spoke from the white house briefing room. [captions copyright national cable satellite corp. 2012] [captioning performed by national captioning institute] >> good afternoon, everybody. for the past couple
, whether it be the fiscal cliff, the election, the situation in europe. nonetheless, gold has just not been the safe haven. this morning, it was industrial metals that got a boost as we saw rallies in asia on hopes that maybe this new regime in china is going to be spending more helping to prop up the property department there, housing, than might mean more demand for industrial metals. copper today, the standout in part because of that. also, a different note, the s.e.c. ahead of the holiday delayed a decision on the proposed etf, according to the "wall street journal," the etf would hold twice as much copper in terms of holdings compared to the jpmorgan holding approved on december 14th. >> i think 182,000 physical tons they could take off the market. we'll revisit it later. for a moment, thank you. bob pisani is joining me on the floor of the nyse. the big discussion is about retail and what the figures from mastercard tell us. >> i just want to point out that the dow industrials dropped in the middle of the day. there had been some concern the house leadership which is all coming back n
started off so well, in terms of expectations for economic growth. we had an election this year, too. i think that's another thing that is sort of the key. we hit europe again as we had the last two years previously. but this last quarter, i think there's been a lot more optimism, even with the fiscal cliff sitting there, as sort of this potential, real roadblock at the end of the year. perhaps even too much optimism some would say. when you speak to ceos, there's still a lack of confidence, i would argue on the part of many of them, that you would like to see more of. perhaps a reflection of their concerns about the fiscal crisis that may weigh on our tax spending policies. >> we'll start over the next week or so talking about performers for the year. top s&p performer is pulty, which says how people are viewing how people will view what's driving the economy in the coming year. bank of america has doubled. worst performer on the dow, hpq. there will be crystallizations of what happened overall. >> the perspective on this whole thing is the s&p 500 is still up 14% year-to-date. despite
the election, president and mrs. obama sat down with barbara walters. in this moment from their wide-ranging conversation, the first couple is revealing intimate moments from the campaign trail. >> mr. president, mrs. obama, there's a photograph of that you went viral. became the most-shared photograph in the history of twitter. here it is. when you look at this picture, what do you think? at what point was that? >> i think we were campaigning in iowa. >> why were you hugging her so hard in iowa? >> because i love my wife. >> also, i hadn't seen him in a while. when you're campaigning, we're two ships passing in the night. and the first time i saw him was when i walked onstage to greet him. and that's my honey giving me a hug. >> i like giving you hugs. >> how do you keep the fire going? >> that's a good question. >> you know, we've been married now 20 years. >> uh-huh. >> and like every marriage, i think you have your ups and you have your downs. but if you work through the tough times, the respect and love that you feel deepest. -- deepens. >> and there's a lot of laughter. you kno
there. what we gather is the police chiefs don't like it. the elective sheriff, he doesn't like it p. and as we learned from the comments in the newspaper, the gun owners certainly don't like it. that leaves the remaining sector finding the article interesting. >> what do they say about it? >> police chiefs look at it and say, look 40% of these people holding the gun mer mitts are active or retired law enforcement. these are people who may have put people in prison or prison guard who inmates might be looking for their home address and now it's point and click. the other thing is that 8,000 -- i mean if you just take rockland county, 8 thousand either active or retires nypd officers live there. so within the law enforcement community, they say you're giving the people a map to our home addresses that's searchable. >> one of the criticisms here is that potential robbers are going to know who has guns and who doesn't to know which homes to target. how does this make the job more difficult for them? >> it's one of the things you know. i talked to the sheriffs and th
, this is an unbelievable situation because it's been, what, five or six weeks since the election. abc it's amazing that they are still as far apart today from getting a deal as they were when we first started talking about this. if we do go over the cliff. by the way i agree with peter. i still there is a slim chance at getting something done next week before new year's eve. but if we don't get that deal, we're talking about a very major tax increase. not just on people like warren buffet and bill gates but middle class folks. by my calculations if you look at all the taxes that are going up. if we go over the cliff you are talking about if you are a middle class family earning between 45 and $75,000 your tax bill will go up $2,500 a year. >> we have some of these statistics by category here on the screen. this is modern. from zero dollars to $20,000. you are still going to get hit. 400 bucks, stephan. that's no small amount. >> no. just to intervene that's because the payroll tax. payroll tax reduction that also is scheduled to go up next year as well. even lower income people will get hit. no qu
to a major change in the tax code? >> maybe they were hoping that they would win the presidential election in 2012 and then have a upper hand event. but you know, they didn't go for the permanent rates, the bush era tax rates when they had the chance in 2010 and the sequester, the automatic spending cuts getting lost in the conversation are something they pretty much set up with the democrats in 2011. >> well, here specifically, here is about the millionaire cut off figure because of course, now the president says compromise going out to 4,000. here is what pelosi said in may of 2012 to speaker john boehner. democrats believe those earning over a million dollars a year should expire and we should use the resulting revenues to pay down the deficit. has anybody called her on that, hey, look, you're only for raising rates for millionaires and above before now you're into the $400,000 level? >> i called her on it last week, and she avoided the question and didn't answer it directly. she said, we were trying to smoke out, that was her quote, smoke out republicans and steny hoyer himself mention
will begin to define the president's second term. he was elected to lead. >> we also got an update from oulaurie mcginley this morning. >> what kind of a deal did the president offered? what is new on the negotiations among and between the centers in the white house backs -- senators in the white house what is new is the the have seemed to finally agreed they're going to move forward with something. there is no purity that the republican leaders and democratic leader will in fact be able to put together an agreement. the release now saying they are trying to work together and aiming towards a vote. either sunday or monday. i do not believe anyone has been briefed. the residents lack of information among the people were actually good to have to vote -- there is an absolute lack of information among the people who are actually going to have to vote. senators are here, but not in session today. the leaders wanted a day of peace to pull this together. people are going to start to get briefed tomorrow afternoon. >> both majority leader harry reid and minority leader mcconnell expressed optim
. >> rick: he has a long history. he was initially elected in the connecticut state senate in 1970. so 42 years he's been in public service. >> gretchen: 70 years old, now he's retiring. now it's time to look at weather situations. >> rick: look at the massive storm moving east. >> clayton: as dozens of christmas tornadoes terrorized the south last night. take a look. >> oh, my god, look. that's a tornado. oh, wow. look at that tornado. >> clayton: she was right. it was a tornado. eyewitness watching this monster trample through mobile, alabama. thousands of people waking up without power. >> when it calmed down, we looked and everything seemed green, like it was popping off transformers left and right and heard the noise and i took off and started walking down here. >> clayton: brutal winds tossed these cars on top of each other in mcneil, mississippi and left neighborhood a complete disaster zone. >> never seen one in real life and just to be able to hear one from that far away is about a mile from where we are. you can still hear it. it was pretty amazing. >> clayton: while toppled tre
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